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this post was submitted on 02 Dec 2023
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Some context is that this is Spotify's first profitable quarter in quite a while. Also, there are 11 million artists on Spotify. I won't pretend to have any data on listening distribution, but even naively and stupidly going with a uniform split, that's of course $5 per artist if you eliminated Spotify's profit entirely. In reality, most of those will have next to no listeners, and the vast majority of streams are going to the top several thousand.
The deeper question to ask is where all the streaming revenue is actually going, and the answer to that isn't to line Spotify's pockets; it's to the labels.
It's a bit of a confusing situation. Spotify pays the labels for the rights, but also has to pay the artists? Do the artists not get money from the labels for the money they got from seeling their songs? Do artists that own their own songs get a larger cut from Spotify?
And yeah 56mil is nothing to a business like this, I'm surprised it's not more profitable with all the subscriptions and ad money. It's like THE platform for music nowadays.